Efrain Torres Garcia

US Patent:

20110119169, May 19, 2011

Filed:

Nov 13, 2010

Appl. No.:

12/945841

Inventors:

Anthony Passero - Fort Lauderdale FL, US
Kevin Ellis - Pembroke Pines FL, US
Efrain Antonio Garcia Poveda - Coral Springs FL, US

International Classification:

G06Q 40/00

US Classification:

705 35

Abstract:

The present invention is a method and system for facilitating a settlement negotiation of a debt between a debtor and a creditor whereby settlement proposals are automatically and intelligently generated, based upon the financial circumstances of the debtor and a pattern of decision-making behavior of the creditor, and are sent throughout the duration of the negotiation process until an acceptable proposal is secured. Furthermore, the present invention also provides an automatic, streamlined framework for the user or client to budget for and carry through with payment of the debt in accordance with the agreed upon settlement. This negotiation and settlement process occurs without any direct contact between the debtor and the creditor, or an outside intermediary, by automating a significant part of the negotiation and repayment process whereby the process is transparent and visible to the debtor and creditor.